Mizuho Securities USA LLC Purchases 11,831 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Mizuho Securities USA LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 45.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 37,606 shares of the financial services provider’s stock after acquiring an additional 11,831 shares during the period. Mizuho Securities USA LLC’s holdings in The PNC Financial Services Group were worth $7,252,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Summit Global Investments bought a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $639,000. Millstone Evans Group LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $608,000. Wayfinding Financial LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $356,000. Oxford Financial Group LTD. LLC increased its position in shares of The PNC Financial Services Group by 9.6% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 2,309 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 202 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC increased its position in shares of The PNC Financial Services Group by 452.3% during the 4th quarter. Independent Solutions Wealth Management LLC now owns 7,092 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 5,808 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Stock Performance

PNC opened at $173.35 on Friday. The business has a fifty day simple moving average of $190.03 and a 200 day simple moving average of $192.27. The company has a market capitalization of $68.60 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.16 EPS. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.69%. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the sale, the chief executive officer now directly owns 567,299 shares in the company, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 12,420 shares of company stock worth $2,369,165. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.